80% Pension Funding Hall of Shame and Heroes List
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Date last updated10/8/2017
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byMary Pat Campbell
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marypat.campbell@gmail.com
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Original blog post explaining:
http://stump.marypat.org/article/152/new-public-pension-series-the-80-percent-pension-funding-hall-of-shame
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Post explaining Heroes List:
http://stump.marypat.org/article/218/welcome-to-the-80-percent-funding-heroes-list-daniel-borenstein
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Post explaining Never Fully-Funded List of Evil
http://stump.marypat.org/article/823/a-new-category-for-the-hall-of-shame-never-fully-funders
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American Academy of Actuaries brief on the 80% public pension funding myth
http://www.actuary.org/files/Pension%20Funding.pdf
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Prior Academy brief:
http://www.actuary.org/files/80_Percent_Funding_IB_071912.pdf
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Email I send to everyone I find (in a timely manner): [sometimes edited due to piece]
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Hi --

I saw in your recent column this paragraph:

[WHATEVER THE OFFENDING 80% STATEMENT WAS, ESPECIALLY IF IT REFERENCES ACTUARIES]

This is not the case.

This is from the American Academy of Actuaries:
http://www.actuary.org/files/Pension%20Funding.pdf

The beginning:
"The health of defined-benefit pension plans is
a key issue to the tens of millions of Americans
who are receiving or expecting to collect
pension benefits. Some have said that the
level of funding – specifically an 80% funded
level – should be used as a general benchmark
to determine whether pension plans
are financially healthy. In reality, however, no
single level of funding distinguishes a healthy
plan from an unhealthy plan. In fact, plans
should have as their objective accumulating
assets equal to 100% of relevant pension
obligations."

Thanks for your time,
-mpc
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Comment I post on articles that allow comments:
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FYI: 80% funded does not mean a pension plan is “healthy”
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See this brief from the American Academy of Actuaries:
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http://www.actuary.org/files/Pension%20Funding.pdf
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shortened URL:
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http://bit.ly/1hvpGy3
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GAO document many refer to:
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http://www.gao.gov/new.items/d08983t.pdf
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Quote from the GAO document
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Many experts consider a funded ratio (actuarial value of assets divided by actuarial accrued liabilities) of about 80 percent or better to be sound for government pensions.
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NOTE: NONE OF THESE "EXPERTS" IS NAMED
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Note May 2016
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Added ambiguous tab -- not really a hall of shame entry, could be true
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Or I just don't know what to do with it
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Or the blame is widely spread (such as when it's written into law)
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Note Dec 2016
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Morningstar really did make a 70% "fiscally sound" threshold... may need its own category when people quote it
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About the Hall of Shame and Heroes List
Heroes List
Hall of Shame database
Never Fully-Funded List of Evil
Ambiguous
Graph prep
Hall of Shame Entries by Quarter
Percentage Breakout
Breakout by "Healthy"